13. Segments

The Company aligns its operating segments in order to conform to management’s internal reporting structure, which is reflective of service offerings by industry. Management aggregates such operating segments into three reporting segments: what consumers buy (“Buy”), consisting principally of market research information and analytical services; what consumers watch (“Watch”), consisting principally of television, online and mobile audience and advertising measurement and corresponding analytics and Expositions, consisting principally of trade shows, events and conferences.

Corporate consists principally of unallocated items such as certain facilities and infrastructure costs as well as intersegment eliminations. Certain corporate costs, other than those described above, including those related to selling, finance, legal, human resources, and information technology systems, are considered operating costs and are allocated to the Company’s segments based on either the actual amount of costs incurred or on a basis consistent with the operations of the underlying segment. Information with respect to the operations of each of Nielsen’s business segments is set forth below based on the nature of the services offered and geographic areas of operations.

Business Segment Information


(IN MILLIONS)	Buy		Watch		Expositions		Corporate			Total
Three Months Ended March 31, 2013
Revenues	$	825	$	494	$	57	$	—		$	1,376
Depreciation and amortization	$	51	$	68	$	6	$	1		$	126
Restructuring charges	$	12	$	7	$	—	$	16		$	35
Stock-based compensation expense	$	3	$	2	$	—	$	5		$	10
Other items⁽¹⁾	$	5	$	—	$	—	$	2		$	7
Operating income/(loss)	$	53	$	122	$	26	$	(30	)	$	171
Business segment income/(loss)⁽²⁾	$	124	$	199	$	32	$	(6	)	$	349
Total assets as of March 31, 2013	$	6,705	$	6,696	$	752	$	263		$	14,416


(IN MILLIONS)	Buy		Watch		Expositions		Corporate			Total
Three Months Ended March 31, 2012
Revenues	$	799	$	474	$	61	$	—		$	1,334
Depreciation and amortization	$	53	$	68	$	6	$	2		$	129
Restructuring charges	$	31	$	5	$	—	$	1		$	37
Stock-based compensation expense	$	2	$	2	$	—	$	4		$	8
Other items⁽¹⁾	$	—	$	—	$	—	$	2		$	2
Operating income/(loss)	$	35	$	111	$	30	$	(19	)	$	157
Business segment income/(loss)⁽²⁾	$	121	$	186	$	36	$	(10	)	$	333
Total assets as of December 31, 2012	$	6,885	$	6,706	$	758	$	236		$	14,585

(1)

Other items for the three months ended March 31, 2013 primarily consist of a $4 million write down of uninsured deposits in Cyprus banks as described in Note 12 in the condensed consolidated financial statements and deal related costs. Other items for the three months ended March 31, 2012 primarily consist of costs associated with Nielsen’s secondary public offering of common stock and other transaction related costs.

(2)	The Company’s chief operating decision making group uses business segment income/(loss) to measure performance from period to period both at the consolidated level as well as within its operating segments.